The numbers are in…
The numbers are in from the Toronto Real Estate Board. In 2019, the total number of sales was 87,825 up 12.6% from the previous year. The average sales price was $819,319 up 4% from 2018.
“We certainly saw a recovery in sales activity in 2019, particularly in the second half of the year.” – Michael Collins, President of the Toronto Real Estate Board.
While we experienced strong sales increase in 2019, the number of new listings were down by 2.4% year over year, quite a decline on the supply front.
Here are the average sales prices by home type in the 905 area:
The average price for detached homes, semi-detached, townhomes and condos were: $925,830, $688,380, $627,208 and $482,836 respectively.
GTA Real Estate Predictions for 2020
The Greater Toronto Area real estate market is in for a great year in 2020:
- The government will look into changes in the stress testing
- Home prices will go up 5%
- GTA will continue to be a Seller’s Market